Announced
Financials
Tags
Domestic
Private
Single Bidder
real estate properties
Minority
Friendly
Private Equity
United States
Real Estate Holding and Development
Pending
Acquisition
Real Estate
Joint Venture
Synopsis
The Blackstone Group agreed to acquire a 49% stake in the Hollywood Media Portfolio of Hudson Pacific Properties, a real estate investment trust with a portfolio of office and studio properties, at a $1.65bn valuation. "Hudson Pacific has been at the forefront of Hollywood’s renaissance for more than a decade, owning, operating and building world-class creative office and production campuses for leading media and technology companies. Our latest joint venture with Blackstone unlocks a portion of the value we’ve created for our shareholders and provides us with significant capital to grow both our studio and office portfolios, including the build-out of additional development rights at our existing studios. We are pleased to once again align with Blackstone, a trusted and proven strategic partner, who shares our long-term vision for our studio portfolio and the asset class more broadly," Victor Coleman, Hudson Pacific Chairman and CEO.
Search a database of more than 250,000 verified dealmakers
Receive automated updates on global transactions
Follow the activity, relationships and transactions of top dealmakers
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.